By the time you reach your retirement years, you have probably been paying the premiums on your life insurance policy for decades with the understanding that the policy proceeds will be paid out to your named beneficiaries upon your death. Knowing that the proceeds of your life insurance policy will help provide for your loved ones after you are gone undoubtedly provided the motivation to purchase, and continue to pay for, your life insurance policies. Now that your children (and beneficiaries) … [Read more...]
Making Life Insurance Work for You
For most people, life insurance plays an integral role in their estate plan. The type and amount of life insurance that your purchase, however, will depend on a number of factors. The first step in deciding which type of life insurance you need and how it fits into your estate plan is to learn more about the different life insurance options available. To help get you started, the Phoenix estate planning attorneys at Morris Hall, PLLC explain the most common types of life insurance. Life … [Read more...]
Are You Owed Life Insurance Money?
Some of the largest insurance carriers in the United States have agreed to pay over $7.5 billion in back benefits. Is any of that due to you? Last April, the news program 60 Minutes investigated the insurance industry’s practice of not paying the benefit under a life insurance policy until the family or beneficiary actually contacted the carrier. This practice resulted in millions of unpaid policies, even though the insured person has passed away. The most unsettling aspect of the … [Read more...]
